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Funding & Exit

Thoma Bravo Acquires iPipeline

Larry Cheng
Larry Cheng is a Co-Founder and Managing Partner at Volition Capital.
Volition

Thoma Bravo, LLC, a leading private equity investment firm, announced today the acquisition of iPipeline, a leading technology provider of cloud-based software solutions to the life insurance industry. Financial details were not disclosed.

“iPipeline typifies what we look for in an investment opportunity,” said Holden Spaht, a managing partner at Thoma Bravo. “The Company is a market leader with a mission critical product offering and has a strong secular growth opportunity from the continued migration of life insurance applications from print to digital.”

Founded in 1995, iPipeline is based in Exton, Penn., and is a technology provider of SaaS solutions that drive straight-through processing for the insurance and financial services industry. With more than 400 employees worldwide, iPipeline leads the information technology and services industry in providing web-based software tools for the insurance and financial services markets on a global scale.

“We’re pleased to be joining Thoma Bravo, which has a track record of picking exceptional high-growth vertical market technology companies,” said Tim Wallace, chief executive officer of iPipeline. “We expect our relationship with Thoma Bravo will help fuel organic growth and pursue complementary acquisitions that increase our value to the insurance industry as a whole. Thoma Bravo’s experience with high-growth companies will not only help us achieve these goals, but also aid us in our mission to continuously improve customer satisfaction levels.”

“Both carriers and distributors of insurance and annuity products alike are seeking to streamline their customer onboarding workflows, and make the process of purchasing these products easier and more intuitive for the end consumer,” said A.J. Rohde, a principal at Thoma Bravo. “iPipeline is at the forefront of this movement, and we’re excited to be able to invest in a business with such an excellent market opportunity.”

Thoma Bravo will be acquiring its interest in iPipeline from three venture capital firms: NewSpring Capital, Technology Crossover Ventures and Volition Capital.

Goodwin Procter LLP served as legal advisor to Thoma Bravo and Golub Capital and Ares Capital Corporation provided financing for the transaction. Credit Suisse served as lead financial advisor, Bank of America Merrill Lynch and William Blair as co-advisors, and Pepper Hamilton LLP and Lauletta Birnbaum LLC as legal advisors to iPipeline.

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